SBA Hurricane Sandy loan approvals surpass $2 billion

by jmaloni

Press release

Fri, Apr 5th 2013 01:20 pm

Application
deadlines extended in New York and New Jersey

The
U.S. Small Business Administration has approved more than $2 billion
in disaster loans to 32,500 residents and businesses in states
affected by Hurricane Sandy - further expanding SBA's response to
what is already the third largest natural disaster in U.S. history
for the agency. This milestone comes as the deadlines to file
applications for physical disaster loans are extended in New York
(April 13) and New Jersey (May 1).

"Since
Hurricane Sandy struck the East Coast in October, SBA has worked
diligently to approve loan applications and get money into the hands
of storm victims as quickly as possible," said SBA Administrator
Karen G. Mills. "We remain committed to helping those individuals
and communities affected by Hurricane Sandy rebuild stronger and to
providing support for long-term recovery."

After
Hurricane Sandy hit, eight states (N.Y., N.J., Conn., R.I., Md., Va.,
W.V., N.C.) and Puerto Rico received federal disaster declarations.
As of April 5, more than 30,000 home disaster loans had been approved
for a total of $1.8 billion. More than 2,500 business disaster loans
have been approved for $260 million.

New
York and New Jersey residents and businesses affected by Hurricane
Sandy are encouraged to first register with FEMA at 1-800-621-FEMA
(3362), or TTY 800-462-7585 for the speech and hearing impaired.
Those unable to qualify for SBA assistance may be referred to FEMA
for grant consideration.

If
you have already received an SBA disaster loan application, return it
as soon as possible. If you need help filling out the application,
SBA staffers are available to provide individual assistance at one of
the local recovery centers. You can also apply online via SBA's
secure website at https://disasterloan.sba.gov/ela.

Additional
details on the locations of Recovery Centers and the loan application
process can be obtained by calling the SBA Customer Service Center at
800-659-2955 (800-877-8339 for the deaf and hard-of-hearing) or by
sending an email to [email protected].
For more information about SBA's disaster loan program, visit www.sba.gov/sandy.